Systems and computer-implemented processes for analyzing and determining the value of switching accounts

ABSTRACT

The disclosed embodiments include systems and methods for customer account switching valuation. The disclosed embodiments include a customer account switching valuation computer system that includes a storage device storing instructions and a processor configured to execute the instructions in the storage device. In one aspect, the system may receive, from a client computer associated with a customer, a response to an offer to switch an existing account to a new account and collect, based on the response, account information relating to the existing account. The processor may be configured to parse the collected account information into one or more categories and analyze the categorized account information to determine a value to the customer for switching from the existing account to the new account. The processor may also provide a representation of the value to the client computer.

PRIORITY CLAIM

This disclosure claims priority under 35 U.S.C. §119 to U.S. provisionalpatent application no. 61/691,146, filed on Aug. 20, 2012, and entitled“Systems and Computer-Implemented Processes for Analyzing andDetermining the Value of Switching Accounts,” which is incorporatedherein by reference in its entirety.

FIELD

The disclosed embodiments generally relate to financial accountsprocessing systems, and more particularly, to processes and systems foranalyzing aspects related to financial accounts (and other types ofaccounts) and enabling changes in those accounts.

BACKGROUND

Currently, financial account providers, such as banks, credit cardcompanies, merchants, lenders, and the like, offer incentives forpotential customers to switch their financial accounts from an existingprovider. Lower interest rates, reduced fees, overdraft forgiveness, andpremium services are some examples of incentives that financial accountproviders may offer to lure customers from a competing provider.

While such offers may be beneficial to a potential customer, themechanisms used by current providers to present the incentives lacktools that enable customers to understand and appreciate the value inswitching between service providers. For example, while a financialaccount provider may offer account switching incentives to a potentialcustomer by advertising lower interest rates for credit accounts (orhigher rates for checking accounts), the customer is required tomanually compare features and benefits between their existing accountsand the offered accounts to calculate their own savings. This mayrequire the customer to review and analyze their account statements,adding up fees paid, interest earned and time spent going to and fromthe branch to make deposits, in order to calculate their monetary andtime savings if the customer switched accounts. While some calculatorsare available to assist in this assessment, they still require consumersto pore over statements to figure out what to input into the calculatorin the first place.

Moreover, consumers are left in the dark concerning the degree ofdifficulty and complexity involved in switching accounts. No processesexist that give transparency to the switching process based on acustomer's unique situation (e.g. how many direct deposits they have,how many bill payees they have set up in their previous account and howmany bills are automatically debited from their account) and rate thedegree of difficulty so customers expectations are set if deciding toswitch.

Thus, existing mechanisms are cumbersome, slow, and lack user-friendlyfeedback that enable a customer to quickly appreciate the benefits ofswitching a financial account to a new provider offering switchingincentives.

SUMMARY

Disclosed embodiments include systems and processes that enable acustomer to estimate the benefits gained in switching from an existingservice provider, such as a service provider providing certain financialservices to the customer, to a different service provider soliciting theswitch. The disclosed embodiments include mechanisms that assist ingathering information regarding transactions that need to be changedbased on switching accounts (e.g., financial, membership, rewards,travel, etc.) and provide transparency into the switch process so thatthe customer can manage the switch to avoid unnecessary fees, the riskof overdrafts, and the like. Further, certain embodiments providemechanisms that configure and perform the switching of accounts for thecustomer. Accordingly, some embodiments provide a system and processthat provides automated and user-friendly mechanisms, enabling customersto estimate the savings gained from switching to a new financial accountprovider.

The disclosed embodiments include a customer account switching valuationcomputer system including a storage device storing instructions and aprocessor configured to execute the instructions in the storage device.In one aspect, the processor may receive, from a client computerassociated with a customer, a response to an offer to switch an existingaccount to a new account, and collect, based on the response, accountinformation relating to the existing account. The processor may alsoparse the collected account information into one or more categories andanalyze the categorized account information to determine a value to thecustomer for switching from the existing account to the new account. Theprocessor may also provide a representation of the value to the clientcomputer.

The disclosed embodiments also include a customer account switchingvaluation method. In one aspect, the method may include receiving, froma client computer associated with a customer, a response to an offer toswitch an existing account to a new account and collecting, based on theresponse, account information relating to the existing account. Themethod may also include parsing, via a processor, the collected accountinformation into one or more categories and analyzing, via theprocessor, the categorized account information to determine a value tothe customer for switching from the existing account to the new account.The method may also include providing a representation of the value tothe client computer.

The disclosed embodiments may also include a client device including astorage device storing instructions and a processor configured toexecute the instructions in the storage device. In one aspect, theprocessor may receive, from a remote computer, an offer to switch anexisting account provided by a first account provider to a new accountprovided by a second account provider. The processor may also provide aresponse to the offer to the remote computer, and receive from theremote computer a representation including a value to the customer forswitching from the existing account to the new account.

Consistent with other disclosed embodiments, tangible computer-readablestorage media may store program instructions that are executable by oneor more processors to implement any of the processes disclosed herein.

It is to be understood that both the foregoing general description andthe following detailed description are exemplary and explanatory only,and are not restrictive of the disclosed embodiments.

BRIEF DESCRIPTION OF THE DRAWINGS

The accompanying drawings, which are incorporated in and constitute apart of this specification, illustrate several embodiments and, togetherwith the description, serve to explain the disclosed principles. In thedrawings:

FIG. 1 is diagram of an exemplary system that may be used to implementthe disclosed embodiments.

FIG. 2 is a diagram of switch component features that may be provided bythe disclosed embodiments.

FIG. 3 is an exemplary switch process flow consistent with the disclosedembodiments.

FIG. 4 is another exemplary switch process flow consistent with thedisclosed embodiments.

FIGS. 5A-C depict a flowchart of an exemplary switch process consistentwith the disclosed embodiments.

FIG. 6 is an exemplary user-interface for requesting user-based switchprocess initiation that may be provided by the disclosed embodiments.

FIG. 7 is an exemplary user-interface for collecting customer accountinformation that may be provided by the disclosed embodiments.

FIG. 8 is an exemplary user-interface for collecting customer accountinformation that may be provided by the disclosed embodiments.

FIG. 9 is an exemplary user-interface for uploading account documentscontaining customer account information that may be provided by thedisclosed embodiments.

FIG. 10 is an exemplary user-interface for collecting customer accountinformation through provision of account credentials (log in) that maybe provided by the disclosed embodiments.

FIG. 11A is an exemplary user-interface for providing account switchanalysis results that may be provided by the disclosed embodiments.

FIG. 11B is an exemplary user-interface for providing informationreflecting how the account switch analysis results were determined thatmay be provided by the disclosed embodiments.

FIG. 12 is an exemplary user-interface that may be provided by thedisclosed embodiments.

FIG. 13 shows exemplary request fields that may be provided in auser-interface for collecting customer account information that may beimplemented by the disclosed embodiments.

FIG. 14 shows exemplary switch analysis logic for determining theaccount switch analysis results that may be implemented by the disclosedembodiments.

FIG. 15 shows an exemplary customer demographic analysis processconsistent with the disclosed embodiments.

FIG. 16 shows an exemplary configuration for providing switch processesassociated with one or more different types of accounts consistent withthe disclosed embodiments.

DESCRIPTION OF THE EMBODIMENTS

Reference will now be made in detail to exemplary embodiments, examplesof which are illustrated in the accompanying drawings and disclosedherein. Wherever convenient, the same reference numbers will be usedthroughout the drawings to refer to the same or like parts.

FIG. 1 shows an exemplary system that is configured to perform one ormore software processes that, when executed, provide one or more aspectsof the disclosed embodiments. The components and arrangement shown inFIG. 1 is not intended to be limiting to the disclosed embodiment as thecomponents used to implement the processes and features disclosed heremay vary.

In accordance with certain disclosed embodiments, a system 100 may beprovided that includes a switch system 102, network 112, and one or moreclients 114. Other components known to one of ordinary skill in the artmay be included in system 100 to process, transmit, provide, and receiveinformation consistent with the disclosed embodiments.

Switch system 102 may be a computer-based system including computersystem components, such as one or more servers, desktop computers,workstations, tablets, hand held computing devices, memory devices,and/or internal network(s) connecting the components. In one embodiment,switch system 102 may be a server that includes one or more processor(s)104, memory devices, such as memory 108, and interface components 106.Switch system 102 may be a single server or may be configured as adistributed computer system including multiple servers or computers thatinteroperate to perform one or more of the processes and functionalitiesassociated with the disclosed embodiments. In certain embodiments,switch system 102 may be a server that is associated with a financialaccount provider 110, such as, for example, a bank, lender, merchant,credit card provider, and any other entity that provides financialaccounts to customers. Financial accounts may include, for example,credit card accounts, checking accounts, savings accounts, loans,investment accounts, and any other type of account relating to financialproducts. In one aspect, financial account provider 110 may be aprovider that advertises, solicits, or otherwise communicates withpotential customers for switching the customers' existing financialaccounts to financial accounts provided by financial account provider110.

Processor(s) 104 may be one or more known processing devices, such as amicroprocessor from the Pentium™ family manufactured by Intel™ or theTurion™ family manufactured by AMD™. Processor(s) 104 may include asingle core or multiple core processor system that provides the abilityto perform parallel processes simultaneously. For example, processor 104may be a single core processor that is configured with virtualprocessing technologies known to those skilled in the art. In certainembodiments, processor 104 may use logical processors to simultaneouslyexecute and control multiple processes. Processor 104 may implementvirtual machine technologies, or other similar known technologies toprovide the ability to execute, control, run, manipulate, store, etc.multiple software processes, applications, programs, etc. In anotherembodiment, processor(s) 104 may include a multiple-core processorarrangement (e.g., dual or quad core) that is configured to provideparallel processing functionalities to allow switch system 102 toexecute multiple processes simultaneously. One of ordinary skill in theart would understand that other types of processor arrangements could beimplemented that provide for the capabilities disclosed herein.

Switch system 102 may include one or more storage devices configured tostore information used by processor 104 (or other components) to performcertain functions related to the disclosed embodiments. In one example,switch system 102 may include a memory 108 that includes instructions toenable processor(s) 104 to execute one or more applications, such asserver applications, network communication processes, and any other typeof application or software known to be available on computer systems.Alternatively, the instructions, application programs, etc. may bestored in an external storage or available from a memory over a network.The one or more storage devices may be a volatile or non-volatile,magnetic, semiconductor, tape, optical, removable, nonremovable, orother type of storage device or tangible computer-readable medium.

In one embodiment, switch system 102 includes a memory 108 that includesinstructions that, when executed by processor(s) 104, perform one ormore processes consistent with the functionalities disclosed herein.Methods, systems, and articles of manufacture consistent with disclosedembodiments are not limited to separate programs or computers configuredto perform dedicated tasks. For example, switch system 102 may include amemory that may include one or more programs to perform one or morefunctions of the multiple user display control features of the disclosedembodiments. Moreover, processor(s) 104 may execute one or more programslocated remotely from system 100. For example, system 100 may access oneor more remote programs, that, when executed, perform functions relatedto disclosed embodiments. Memory 108 may include one or more memorydevices that store data and instructions used to perform one or morefeatures of the disclosed embodiments. Memory 108 may also include anycombination of one or more databases controlled by memory controllerdevices (e.g., server(s), etc.) or software., such as documentmanagement systems, Microsoft SQL databases, SharePoint databases,Oracle™ databases, Sybase™ databases, or other relational databases.

Switch system 102 may also be communicatively connected to one or morememory devices (e.g., databases (not shown)) locally or through anetwork. The remote memory devices may be configured to storeinformation and may be accessed and/or managed by switch system 102. Byway of example, the remote memory devices may be document managementsystems, Microsoft SQL database. SharePoint databases, Oracle™databases, Sybase™ databases, or other relational databases. Systems andmethods of disclosed embodiments, however, are not limited to separatedatabases or even to the use of a database.

Switch system 102 may also include one or more I/O devices that maycomprise one or more interfaces for receiving signals or input frominput devices and providing signals or output to one or more outputdevices that allow data to be received and/or transmitted by switchsystem 102. For example, switch system 102 may include interfacecomponents 106 that may provide interfaces to one or more input devices,such as one or more keyboards, mouse devices, and the like, that enableswitch system 102 to receive data from one or more users (such asclients 114). Further, interface components 106 may include componentsconfigured to send and receive information between components of switchsystem 102 or external to switch system 102, such as network 112.

Network 112 may be any type of network that provides communications,exchanges information, and/or facilitates the exchange of informationbetween switch system 102 and clients 114. In one embodiment, network112 may be the Internet, a Local Area Network, or other suitableconnection(s) that enables system 100 to send and receive informationbetween the components of system 100.

Client 114 may each be one or more computer systems. For example, client114 may include a general purpose or notebook computer, a mobile devicewith computing ability, a server, a desktop computer, tablet, or anycombination of these computers and/or affiliated components. In oneembodiment, each client may be a computer system or device that isoperated by a user who is a customer or a potential customer of afinancial service provider. Client 114 may be configured with storagethat stores one or more operating systems that perform known operatingsystem functions when executed by one or more processors. By way ofexample, the operating systems may include Microsoft Windows™, Unix™,Linux™, Apple™ Computers type operating systems, Personal DigitalAssistant (PDA) type operating systems, such as Microsoft CE™, or othertypes of operating systems. Accordingly, embodiments of the disclosedinvention will operate and function with computer systems running anytype of operating system. Client 114 may also include communicationsoftware that, when executed by a processor, provides communicationswith network 112, such as Web browser software, tablet or smart handheld device networking software, etc. Client 114 may be a device thatexecutes mobile applications, such as a tablet or mobile device.

In certain embodiments, memory 108 may include software components that,when executed by processor(s) 104, perform one or more processesconsistent with the disclosed embodiments. For example, memory 108 mayinclude a value analyzer 103, switch analyzer 105, and switch tool 107,which include software instructions executable by one or moreprocessors, such as processor(s) 104, alone or in various combinations.When executed, value analyzer 103, switch analyzer 105, and/or switchtool 107 may provide features relating to switching financial accountsconsistent with the disclosed embodiments. In certain embodiments, valueanalyzer 103 performs functions that provide an online automated accountcomparison tool that determines and presents savings to customers if thecustomers switched existing financial accounts to financial accountsprovided by the financial account provider 110. Switch analyzer 105 maybe configured to perform functions that provide information displayed tocustomers over network 112. Such information may identify and explainone or more transactions that need to be switched to the new financialaccount offered by financial account provider 110 when the customersmake the account switch. Switch analyzer 105 may also be configured toprovide an automated system for customers to schedule account switchesand learn of updated schedule information as the switch tool 107performs switching processes. The logic implemented would assess theoptimal schedule for minimizing the risk of incurring fees fromnon-sufficient funds or late bill payment. Switch tool 107 may beconfigured to provide tools that are used by customers over network 112to switch activities from their previous account to the new financialaccount offered by financial account provider 110, such as automaticbill pay features and third-party initiated activities (e.g., directdeposits, ACH debits, ACH credits, etc.).

Memory 108 may also include other software processes that, when executedby processor(s) 104, perform processes consistent with the disclosedembodiments. For example, memory 108 may also include parsing engine 111that performs parsing processes that collect and categorize raw andunformatted account data for a customer's existing account. Parsingengine 111 may be part of value analyzer 103 or may be software that isaccessed and used by value analyzer 103. Memory 108 may also includescraping engine 113, which may be software that, when executed byprocessor(s) 104, perform seek and collect account data for a customer'sexisting account, such as from the customer's existing accountprovider's computer systems. Scraping engine 113 may be part of valueanalyzer 103 or may be software that is accessed and used by valueanalyzer 103. Memory 108 may also include a difficulty assessment engine115, which is software that, when executed by processor(s) 104, performsdifficulty assessment processes that determine the level of difficultyfor performing the switch to the new account (e.g., overall difficulty,certain transaction switching difficulty (e.g., bill pay, directdeposit, ACH, etc.). Difficulty assessment engine 113 may be part ofvalue analyzer 103, switch analyzer, and/or switch tool 107, or may besoftware that is accessed and used by these software components.

For example, FIG. 2 illustrates some of the processes performed by valueanalyzer 103, switch analyzer 105, and/or switch tool 107. The disclosedembodiments may perform a checking value comparison process 201 that maybe executed by a processor to gather and compare account parametersbetween a customer's existing account and a new account provided by afinancial account provider, in order to determine values that may bequantified and presented to the customer (e.g., monetary and temporalsavings to the customer).

The disclosed embodiments may also perform a demystification process 202to determine what account transactions need to be switched andconfigured for a new account, and to generate information that isprovided to the customer showing what transactions need to be switched,how those transactions can be switched, the progress of the switching ofthe transactions, and details relating to those transactions. Thedymystification process 202 may also determine an estimate of how muchtime is necessary to conduct the switch using data from customers whopreviously used the switching processes of the disclosed embodiments.

Switch DD (Direct Deposit), ACH, and Bill Pay processes 203 may beexecuted by a processor to automatically and/or with user input orinvolvement, configure direct deposit, ACH transactions, bill payactivities, and other types of financial-related activities.

Switching overall key account information 204 is a process that may beexecuted by a processor to transfer, switch, and/or upload accountinformation to the new financial account provided by financial accountprovider 110. For example, account preferences (e.g., starting web pagewhen logging in, paperless statements, etc), Alerts (e.g., e-mail, text,phone, etc.), and store Account History from the previous financialaccount provider (e.g., statements, text files of transactions, etc).

Progress bar 205 is a process that may be executed by a processor todetermine, monitor, and analyze the progress of a switch facilitated byswitch system 102 and generate information for display in auser-interface for presenting the progress of the switch, including, forexample, a progress bar that is displayed on a user-interface. Othertypes of content may be implemented to reflect the progress of theswitch processes, such as text, graphics, color codes, charts,percentage representations, etc.

Gamification 206 is a process that may be performed to determine andgenerate incentives (both virtual or real) for rewarding a customer forperforming a switching-related activity such as opening a new accountthrough the disclosed embodiments, including for example reward points,interest rate adjustments, fee forgiveness, monetary credits, badges foran online profile or other virtual rewards deemed valuable, etc. Realand virtual rewards may also be given for sharing the switchingexperience on social networks and recommending it to other entities orusers (e.g., friends, business partners, etc.).

Reminders and Alerts 207 is a process that may be executed by aprocessor to determine events that should take place relating to the newfinancial account and determine whether certain events or issues occurthat need to be addressed, and to generate appropriate alert informationfor display in a user-interface, communication, or the like to alert acustomer of such events or issues. For example reminders and alerts maybe generated when certain stages of the switching process have beencompleted or when attention is needed on certain switching processes inorder for a switch to be completed. Additionally reminders and alertsmay be generated around gamification elements (e.g., representations ofvirtual or real incentives) to encourage customers to take advantage ofincentives or to let customers know when they have triggered anincentive.

Crowd sourcing and social sharing 208 is a process that may be performedto provide mechanisms that allow the customer to share their experiencesrelating to switching accounts via the disclosed embodiments with otherindividuals or entities via social networking sites. This process may beperformed to collect and analyze a customer's demographics against othercustomer demographic information to determine and provide statisticalinformation regarding characteristics of the customer's switch processand experience. For example, disclosed embodiments may perform processesthat determine statistics of demographically similar customers toprovide information to a new customer reflecting how much moneysimilarly situated people have saved, or how long it took similarlysituated people to complete an account switch using the disclosedembodiments, etc.

Aspects of the disclosed embodiments provide an online switch processthat is automated and user-controlled with user-friendly features. FIG.3 illustrates a general overview of an exemplary switch process that maybe performed by certain disclosed embodiments. FIG. 4 shows a higherlevel representation of switch processes consistent with the disclosedembodiments. In one embodiment, switch processes may include collectingcustomer information (see.g., FIG. 4, 410) through, for example,fetching data using a customer's provided credentials (see.g., FIG. 4,411) or technologies that provide account scraping, e.g., collectinginformation about a customer's existing account (see.g., FIG. 4, 412).The switch processes may also include parsing the collected data(see.g., FIG. 4, 420). For example, in one embodiment, parsing software,when executed by one or more processors, may take customer account datain a raw, unclassified format as it exists or is collected from thecustomer's existing account provider. For example, a customer's accountstatement may be provided in an unclassified and raw format, or theelectronic data representing the customer's existing account may beformatted in raw text file format. The parsing process may convert theraw data into categories that are used to perform the value and switchanalysis of the disclosed embodiments (e.g., FIG. 4, 421). In certainembodiments, the parsing process may convert the collect account datainto the following categories for use by value analyzer 103:

-   -   Interest Paid    -   Monthly cycle/account fee    -   Overdraft Fee (original/first)    -   Overdraft Fee (subsequent/pile-on)    -   ATM Withdrawal Fee (ATM owner)    -   ATM Withdrawal Fee (Bank)    -   Number of frequency of deposits made at Bank Teller or ATM

In other embodiments, the parsing process may also convert the collectedaccount information into the following categories for use by switchAnalyzer 105:

-   -   Direct Deposit information    -   Bill pay information    -   Auto ACH Debit payment (biller) information    -   ACH Credit (e.g. annuity or investment income) information    -   Auto Debit Card payment information    -   Transfers to other bank accounts (internal & external)        information

The switching processes may also perform switch processes that executeand perform the switching of the accounts and any transactions relatingto the new account (e.g., FIG. 4, 430). For example, aspects of thedisclosed embodiments may use the parsed data generated by the parsingprocess to identify and initiate switches for transactions, e.g., directdeposits, ACH transactions, bill pay transactions, etc. (e.g., FIG. 4,431), open the new account, perform the switch to the new account (e.g.,FIG. 4, 432), and set up bill pay transactions using, for example, abiller directory (e.g., FIG. 4, 433).

In one embodiment, financial account provider 110 may implement acomputer system that executes software to generate and provide offers toswitch to a new financial account offered by financial account provider110. Switch system 102 may be configured with software that, whenexecuted by processor(s) 104, identify potential customers, generateoffers (e.g., solicitations, advertisements, direct marketingcommunications, etc.) and provides the offers to the customer(s) throughone or more channels of communication. In one embodiment, financialaccount provider 110 may implement another server or computer system toperform such functions. Examples of such offering functions includesgenerating and providing offers to switch accounts through Web siteadvertisements, direct communications to customers (emails, textmessages, social media communications), and any other type of marketingefforts using the technologies known to one of ordinary skill in the art(e.g., FIG. 3, 310).

FIGS. 5A-C depict a flowchart of an exemplary switch process that may beperformed by switch system 102 consistent with certain embodiments. Withreference to FIG. 5A, initially, the disclosed embodiments may generateand provide a switch offer (e.g., 510). The switch offer may be provideddirectly to one or more customers or may be presented as part of a Webpage or similar wide-based distribution channel that solicits a responsefrom a potential customer of financial account provider 110. The switchoffer may be provided to client 114 that executes software processesthat processes the communication with the offer to render the offer on adisplay device for viewing by the customer.

FIG. 6 shows an exemplary user-interface 600 that may be provided byswitch system 102 or other system(s) associated with financial accountprovider 110. The user-interface 600 of FIG. 6 may be displayed in adisplay device included in client 114. As shown in FIG. 6, the exemplaryuser-interface includes options for a customer to enter accountinformation themselves (630) or allow the switch system 102 to collectaccount information relating to the customer's existing account atanother financial account provider (640). User-interface 600 may alsoinclude a request for a user to sign-up for the switch features offeredby the disclosed embodiments (650). The customer may select one of theoptions and client 114 may provide the response back to switch system102 over network 112.

Returning to FIG. 5A, switch system 102 may receive the response by thecustomer (515) and execute the value analyzer 105 to determine whetherto collect existing account information through manual collection orautomated account information collection processes (520). Based on thecustomer's selection, value analyzer 105 may perform one or moreprocesses that allow the user to manually input account information(525) or provide document(s) or information (e.g., log-in credentials)that can be used by value analyzer 105 to collect the accountinformation (530). For example, FIG. 7 shows an exemplary user-interface700 including textboxes, sliders, and buttons (e.g., 720) that may begenerated by switch system 102 to allow a customer to provide existingaccount information manually. Other mechanisms may be implemented toallow a user to provide existing account information to switch system102 without departing from the scope of the disclosed embodiments. Also,other types of account solicitations may be provided and implemented.Aspects of the disclosed embodiments include software processes that,when executed by processor(s) 104, generate and provide the content,questions, solicitations, etc. included in the user-interface providedto the customer to gather existing account information. For example,value analyzer 103 may include software that, when executed byprocessor(s) 104, generates questions that are included in a documentprovided over network 112 to client 114.

FIG. 8 shows an exemplary user-interface 800 that may be generated toprovide existing account information through automated mechanisms. Forexample, in one embodiment, switch system 102 may provide a solicitation810 to client 114 that is displayed to a customer that requests thecustomer to choose whether to upload a bank statement for their existingfinancial account (820) or to allow switch system 102 to gain access tothe existing account over the Internet to collect the accountinformation (830). In certain embodiments, switch system 102 may allowcustomers to upload an image (e.g., digital photograph, etc.) thatincludes the customer's existing account information or other financialinformation (e.g., an image of a payment stub or an investment accountstatement).

FIG. 9 shows an exemplary user-interface 900 that may be generated toallow a customer to upload an existing bank statement to switch system102. Aspects of the disclosed embodiments include software processesthat, when executed by processor(s) 104, generate and provide thecontent, questions, solicitations, etc. included in the user-interfaceprovided to the customer to upload, receive, and process the bankstatement (910). Aspects of the disclosed embodiments may allow thecustomer to upload the bank statement document in any suitableelectronic format, including, for example, PDF, spreadsheet or text fileformat (e.g., FIG. 9, 920-930). The user-interface of FIG. 9 isexemplary and not limiting to the aspects of the disclosed embodiments.Other formats, types of content, queries, mechanisms for uploading, etc.can be implemented for allowing switch system 102 to receive and processone or more bank statements (or similar documentation or information)from client 114.

FIG. 10 shows an exemplary user-interface 1000 that may be generated toallow a customer to provide credentials relating to the customer'sexisting financial account. Switch system 102 may execute software thatreceives the customer's credentials via responses to the user-interfacequeries (see FIG. 10, 1020-1040) and use the credentials toautomatically access the financial account, and retrieve certain accountinformation from the customer's existing financial account providerassociated with the existing financial account. Aspects of the disclosedembodiments include software processes that, when executed byprocessor(s) 104, generate and provide the content, questions,solicitations, etc. included in the user-interface provided to thecustomer to upload, receive, and process the account information fromanother computer system associated with the customer's existingfinancial account provider. The user-interface of FIG. 10 is exemplaryand not limiting to the aspects of the disclosed embodiments. Otherformats, types of content, queries, mechanisms for collectingcredentials, etc. can be implemented for allowing switch system 102 toreceive and process account credentials for a customer. For example, incertain embodiments, switch system 102 may provide ways for a user toupload their pay statement provided by their employer, For example,information from customer-maintained business applications (e.g.,financial tracking and management software, such as Quicken®, etc.).

In certain embodiments, switch system 102 may execute scraping engine113 to perform scraping processes for collecting account data.Alternatively, switch system 102 may request account data from a remotesystem that performs scraping processes that report collected accountdata to switch system 102.

Returning back to FIG. 5A, in certain embodiments, switch system 102 mayexecute parsing engine 111 to perform parsing processes (535). In oneembodiment, the parsing process may parse the raw or unformatted accountdata collected via manual or automated collection processes (asdisclosed above) to convert it into usable information for valueanalyzer 103 and switch analyzer 105. In one aspect, parsing engine 111may categorize the data into one or more categories, including, forexample:

-   -   Interest Paid    -   Monthly cycle/account fee    -   Overdraft Fee (original/first)    -   Overdraft Fee (subsequent/pile-on)    -   ATM Withdrawal Fee (ATM owner)    -   ATM Withdrawal Fee (Bank)    -   Number of frequency of deposits made at Bank Teller or ATM    -   Direct Deposit information    -   Bill pay information    -   Auto ACH Debit payment (biller) information    -   ACH Credit (e.g. annuity or investment income) information    -   Auto Debit Card payment information

For example, the collected account information may not specificallyidentify the types of transaction for that account. One example mayinvolve direct deposit data. A deposit from the customer's employer maynot be specifically identified as anything other than a “deposit” for atransaction in the customer's account information. Aspects of thedisclosed embodiments perform the parsing process such that itcategorizes the transaction as a Direct Deposit transaction. Anotherexample is where “fees” are identified in the account information.Parsing engine 111 may break down these types of transactions intocategories, such as an ATM fee from ATM owner category, ATM fee fromBank category, overdraft fee category, monthly account fee category,etc.

In certain embodiments, parsing engine 111 may perform processes thatidentify types of transactions based on transaction codes provided inthe collected account data. For instance, accounts statements uploadedby switch system 102 may include codes for each transaction in thestatement that are assigned by the existing account provider. Parsingengine 111 may compare the transaction codes to stored sets oftransaction codes (e.g., stored in a memory internal or external toswitch system 102) to determine the type of transaction. Alternatively,parsing engine 111 may perform assessments of account data over a periodof time to identify types of transactions. In one embodiment, parsingengine 111 analyze transaction data for the customer's accountactivities over the previous two months, although other periods of timemay be considered. Based on the amount of the transactions, thefrequency of those transactions, the recipient (if any) of thetransactions, etc., parsing engine 111 may determine that a particulartransaction is to be categorized as a bill pay, ACH, direct deposit,fee, or other type of category. Thus, for example, parsing engine 111may identify a transaction of $300.00 that occurs on the 15^(th) ofevery month for the past six months and is provided to an account forthe customer as a direct deposit transaction category.

With reference now to FIG. 5B, switch system 102 may also executesoftware processes (e.g., value analyzer 103) that analyze the collectedaccount information for the customer's existing financial account (orother customer-related data, such as pay statements, etc.) (540). In oneembodiment, switch system 102 executes software processes that mayanalyze the parsed account information provided by parsing engine 111and determine a value to the customer if the customer switches to a newaccount provided by financial account provider 110. In one aspect, valueanalyzer 103 may compare one or more parameters of the existing accountto parameters of a new account, which financial account provider 110offers to the customer. For example, switch system 102 may executesoftware that compares interest rates, late fees, overdraft fees,balance threshold fees, maintenance fees, etc. for both accounts, inorder to determine a value reflecting savings to the customer if thecustomer switches to the new financial account. In certain embodiments,switch system 102 may store in a memory one or more account parametersfor the new financial account for access in the comparison processes.Alternatively, switch system 102 may request and receive the new accountparameters from another system that stores and/or generates the newaccount parameters.

As shown in FIG. 5B, value analyzer 103 may be configured, when executedby processor(s) 104, to generate and provide savings information basedon the analysis of the existing account information (545). In anotherembodiment, switch system 102 may provide the savings information in auser-interface that is sent to client 114 for display to the customer.FIG. 11A shows an exemplary user-interface 1100 that includes savingsinformation that may be provided by switch system 102. In otherembodiments, switch system 102 may generate and provide a message thatincludes the saving information to the customer via email, text,automated phone call, etc. In certain embodiments, switch system 102provides the savings information along with an option for the customerto select to switch accounts. In other embodiments, switch system 102may generate an option that is presented on the user-interface showingthe savings information that, when selected, provides informationshowing how switch system 102 determined the savings information for thecustomer. FIG. 11B shows an exemplary user-interface 1100 that may beprovided in response to the customer selecting the above-describedoption that includes information showing exemplary characteristics ofthe customer's new account, 1170-1190, and transactions relating to thecustomer's previous account that may need to be switched, 1160.

Returning to FIG. 5B, switch system 102 may receive the customer'sselection to switch accounts over network 112 (or other mechanisms)(555) in response to the switch system 102 providing an offer to switchaccounts for the customer, 550. Based on the customer's response, switchsystem 102 may perform processes that create or initiate the creation ofthe new financial account for the customer (560). Methods and systemsknown to one of ordinary skill in the art may be implemented to allowfinancial account provider 110 to create and open the new financialaccount for the customer. The new financial account may include one ormore parameters consistent with the type of financial account opened,such as interest rate, balance thresholds, late payment due dates, etc.

With reference now to FIG. 5C, switch system 102 may also execute switchanalyzer 105 to identify and determine transactions that need to beconfigured for the new financial account (565). For example, switchanalyzer 105 may identify direct deposits transactions, bill paytransactions, ACH payment transactions, automatic debit card paymenttransactions, balance transfer transactions, etc. that can be configuredfor the new financial account. In one embodiment, switch analyzer 105may generate a user-interface (or provide information that is used togenerate the user-interface) that includes the status of switchactivities relating to the transactions and other features of the newaccount, and the status of the switch process for the new account (575).Switch system 102 may also execute switch tool 107 to perform processesthat provide automated switching of transactions relating to the newfinancial account. Switch system 102 may also include in the switchstatus user-interface one or more triggers that allow the customer toinitiate transaction switches and see the status and progress of theswitch process for the transactions. FIG. 12 shows an exemplaryuser-interface 1200 that includes switch status information (e.g., FIG.12, 1210-1220) for the new financial account consistent with certainembodiments.

In one embodiment, switch analyzer 105 may execute processes thatidentify types of transactions that may need to be switched based oninformation included in the collected previous account information forthe customer. For example, in certain embodiments, uploaded accountstatements (or pay statements, etc.) may include transactiondescriptions, codes, identifiers of institutions, etc. that switchanalyzer 105 recognizes as associated with certain types oftransactions. For instance, switch analyzer 105 may recognizetransaction codes that reflect known direct deposit transactions, etc.Switch analyzer 105 may use this information to identify transactionsthat may need to be switched. In other embodiments, switch analyzer 105may perform processes that identify types of transactions based on ananalysis of the frequency, amounts, etc. of certain payments, deposits,withdrawals, etc. from the customer's previous account over a period oftime. Thus, in one example, switch analyzer 105 may analyze thecustomer's previous account activities for the past two months toidentify reoccurring transactions of a consistent amount. Based on thisanalysis (and maybe confidence level calculations as disclosed above),switch analyzer 105 may identify a transaction as a direct deposit, billpay, ACH, or other type of transaction.

For example, in certain embodiments, switch system 102 may executeswitch analyzer 105 and/or switch tool 107 to perform automatedfunctions for configuring direct deposit transactions, bill paytransactions, and ACH payment transactions for the new financial accountbased on customer input. In one aspect, switch system 102 may identify adirect deposit transaction that was previously implemented in thecustomer's previous financial account based on the review by the valueanalyzer 103. Switch analyzer 105 may then configure a new directdeposit transaction for the new financial account, and generate andprovide the transaction information in the status user-interface 1200 asexemplified in FIG. 12 (e.g., “Direct Deposit 1240”). The user-interfacecan be configured to show the customer the details for the directdeposit transaction, including the amounts of the transaction andscheduled dates for upcoming transactions. The same type of processescan be performed in connection with other types of transactions, such asthe bill pay 1250 and ACH payment transactions 1260 shown in FIG. 12.

Switch system 102 may also execute software that allows the user toedit, add to, or delete from the list of items to be switched. Thiswould be necessary in cases where the transaction could have beenmistakenly categorized or mistakenly added to left off the list.

Switch system 102 may also execute software that generates and providesfor display in the user-interface, selection buttons (or similaruser-friendly triggers) that allow the user to select whether toinitiate the switch for the transaction. FIG. 12 shows exemplary buttons(e.g., “Initiate switch” 1254) that may be provided by switch system102. Switch tool 107 may receive a user's response for initiating aswitch through the user-interface trigger and perform processes thatautomatically configure and set up the selected transaction for the newaccount. In certain embodiments, switch system 102 may also executesoftware that monitors the status of the selected transaction switch,and based on the monitoring, generates status information for thattransaction switch (see, e.g., FIG. 12, 1245, 1252). Switch tool 107 mayperform the status monitoring processes. In one aspect, switch tool 107may generate content that is provided in the user-interface thatreflects the status of the selected transaction switch, such as thestatus “Complete last step!” 1252 status content shown in FIG. 12.Switch system 102 may provide other types of status information in theuser-interface, such as transaction switch completions, e.g., 1245,necessity of user involvement in switching activity (where automationmay not be possible), e.g., 1252, and content reflecting an overallprogress of the account switch (e.g., “Switching Progress” 1230 statusbar). In certain embodiments, switch system 102 may provide access viathe user-interface to information (such as electronic documentation)confirming the status of each transaction. Other aspects of thedisclosed embodiments include providing incentives in the user-interface(e.g., FIG. 12, 1265) that when selected by the customer, cause switchsystem 102 to associate the customer's new financial account with awardcredits (e.g., award points that are redeemable for monetary ormerchandise items). Switch system can provide different formats forproviding the status of a transaction switch. For example, as shown inFIG. 12, each transaction may be presented with a status representationreflecting the progress of the transaction switch (e.g., “1/2” (e.g.,1270), “0/2” (e.g., 1250, 1260) “1/1” (e.g., 1240), etc.). Switch system102 may implement color codes, audio feedback, animations, and othertypes of graphical content to provide transaction switch progresses.

Switch system 102 may also be configured to monitor aspects of theswitch process and identify when problems occur or may occur withtransactions associated with the customer's existing financial accountand/or the new financial account provided by financial account provider110. For example, switch system 102 may execute software that identifiesupcoming due dates for automated payments and generates alerts that,when presented in the user-interface by switch system 102, warn thecustomer of potential due dates for such transactions (e.g., FIG. 12,1241, 1251, 1261). In one aspect, switch analyzer 105 may performprocesses that automatically create alert settings that were configuredin the customer's previous financial account for the new financialaccount provided by financial account provider 110. Thus, if thecustomer had previously configured the previous financial account toprovide alerts to warn the customer when the customer's previous accountbalance fell below a certain threshold, switch analyzer 105 mayautomatically configure a similar alert setting for the new financialaccount. Switch system 102 may execute software that generates content1280 providing option(s) to the customer for initiating the transfer ofsuch alert settings.

Returning to FIG. 5C, switch system 102 may also perform processes thatdetermine the difficulty level of performing transaction switches (570).In one embodiment, switch system 102 may execute difficulty assessmentengine 115 to perform processes for determining difficulty levels forswitching transactions. For example, switch system 102 may determine andgenerate a difficulty level that reflects a level of difficulty (e.g.,high, medium, low) for performing switches involving direct deposit,bill pay, ACH, etc. and other transactions. FIG. 12 shows exemplarydifficulty level representations (see 1243, 1253, 1263) that difficultyassessment engine 115 may generate for display in a user-interfaceprovided to the customer. In certain aspects, difficulty assessmentengine 115 may perform processes that determine the difficulty levelbased on the amount of user-involvement needed to complete thetransaction switch. For instance, difficulty assessment engine 115 maydetermine (via executed software processes) that switching directdeposits is more difficult than other transactions because the customeris required to provide more information to allow switch system 102 tocomplete the switch. Other types of transaction switches that requirelittle or no user input may be associated with a low difficulty level.Switch system 102 may generate information based on these analyses thatreflect the difficulty level (e.g., textual, graphical, color coded,animations, etc.).

Aspects of the disclosed embodiments include software processes that,when executed by processor(s) 104, generate and provide the content,questions, solicitations, etc. included in the user-interfaceexemplified in FIG. 12. The user-interface of FIG. 12 is exemplary andnot limiting to the aspects of the disclosed embodiments. Other formats,types of content, queries, mechanisms for collecting user responses, andpresenting information, etc. can be implemented to allow switch system102 to receive and process transaction switching for a customer's newfinancial account. Further, switch system 102 includes software thatwhen executed by one or more processors receives, analyzes, andprocesses transaction switching functions based on the input provided bythe customer via the user-interface (or other communication mechanisms).For instance, switch system 102 may execute switch tool 107 to receiveand parse a customer's selection to initiate a switch for a bill paytransaction. Switch tool 107 may be configured to, when executed by aprocessor, perform processes that set up automated bill payments for thenew financial account using the parameters associated for acorresponding bill pay in the customer's previous financial account. Inone aspect, switch tool 107 may communicate, work with, or otherwisecollaborate with value analyzer 103 and/or switch analyzer 105 toreceive and process information to perform the automated switchingfeatures of the disclosed embodiments.

The foregoing descriptions have been presented for purposes ofillustration and description. They are not exhaustive and do not limitthe disclosed embodiments to the precise form disclosed. Modificationsand variations are possible in light of the above teachings or may beacquired from practicing the disclosed embodiments. For example, thedescribed implementation includes software, but the disclosedembodiments may be implemented as a combination of hardware and softwareor in hardware alone. Moreover, the disclosed embodiments may beimplemented as a combination of automation and assisted manualswitching. Additionally, although disclosed aspects are described asbeing stored in a memory on a computer, one skilled in the art willappreciate that these aspects can also be stored on other types ofcomputer-readable media, such as secondary storage devices, like harddisks, floppy disks, a CD-ROM, or other forms of RAM or ROM. Inaddition, an implementation of software for disclosed aspects may useany variety of programming languages, such as Java, C, C++, JavaScript,or any other now known or later created programming language.

Other embodiments will be apparent to those skilled in the art fromconsideration of the specification and practice of the embodimentsdisclosed herein. It is intended that the specification and examples beconsidered as exemplary only, with the true scope and spirit beingindicated by the following claims. For example, switch system 102 may beconfigured to provide one-click switching of transaction activitiesthrough a user-interface, such as the interface exemplified in FIG. 12.Switch system 102 may also provide one-click or expedited financialaccount opening processes. In certain embodiments, switch analyzer 105and switch tool 107 may work collectively to provide such one-clickfeatures. In certain aspects, a customer may only have to select anoffer to perform the switch that is presented on a user-interface. Inresponse, switch system 102 may perform the switch processes disclosedherein to switch the customer's account. Switch system 102 may generateuser-interface(s) that are provided to client 114, which reflect thatthe customer's account has been switched, and identify the transactionsthat have been switched, are in the process of being switched, or cannotbe switched without further input from the customer.

The disclosed embodiments may be performed with clients 114 that aremobile devices or tablets through mobile applications that providecommunications with the functionalities of switch system 102 asdisclosed herein. Switch system 102 may also be configured to executesoftware that performs a fee calculator process that can be invoked by acustomer through an option presented on a user-interface displayed byclient 114. The fee calculator process may calculate fees that the newfinancial account may encounter based on the customer's activitiesrelating to the customer's previous financial account (see, e.g, FIG. 2,201-202). Switch system 102 may also execute software that generatesincentives (both real and virtual) that are presented to potentialcustomers via a user-interface offering the account switch or in otheruser-interfaces provided during the switch offering and/or process, suchas the user-interfaces exemplified in FIGS. 6-12. Switch system 102 mayalso execute software that performs a gamification process, whichprovides incentives for customers who agree to perform switch-relatedactivities, like switching accounts, or switching or initiatingparticular transactions within the new account or sharing their switchexperiences on social networks (see, e.g., FIG. 2, 206). In otherembodiments, switch system 102 may execute software that determines acrowd sourced estimate of time that it takes for the customer to makethe switch to the new financial account (see, e.g, FIG. 2, 208). Suchestimates may be based on, for example, the amount of time it tooksimilarly situated people to complete an account switch using thedisclosed embodiments. In other aspects, switch system 102 may executesoftware that performs social sharing processes that enable a customerto link to social networking Web sites to share their experience withother social networking users (see, e.g, FIG. 2, 208). Also, switchsystem 102 may be configured to execute software that performs a switchback service, which would reverse the switching process in the event thecustomer is not satisfied. The customer would be switched back to thesame type of account at the banking institution they originally switchedfrom, so that all Direct Deposit, Bill Pays, and ACH activity would beprocessed from the original account once again.

In other embodiments, switch system 102 may not be associated with anyparticular financial account provider or any type of account provider,but rather it may be associated with a third party system that isleveraged by account provider(s) to perform the account switch processesdisclosed herein. For instance, a business may implement the disclosedembodiments such that it offers account switching services for otherbusinesses (e.g., other financial account providers). For example, abusiness entity may host and provide switch system 102 and itsfunctionalities such that switch system 102 performs account switchprocesses on behalf of one or more account providers. The hosting switchsystem entity may charge fees for such services, and those fees may beadjusted based on the types of switch services provided, the number ofswitched accounts completed, or other fee arrangements. In suchembodiments, one or more of the switch processes may be performed by anaccount provider, while others performed by the third party switchsystem 102. Alternatively, switch system 102 may perform all of theswitch processes for a customer and report results to an accountprovider through known computer systems and networking components.

Other aspects of the disclosed embodiments maybe implemented. Forexample, FIG. 13 shows exemplary fields that may be provided by valueanalyzer 103 (or switch system 102) to collect account information froma customer. For example, the value analyzer 103 may provide a fieldrequesting the average amount kept in the previous account, 1310. Thevalue analyzer 103 may provide a field requesting an amount, if any, ofchecking account monthly fees, 1320. The value analyzer 103 may providea field requesting an amount of overdraft fees paid in the last threemonths, 1340. The value analyzer 103 may provide a field requesting anumber of checks deposited at a teller or ATM machine in the last threemonths, 1350. The value analyzer 103 may provide a field requesting aninterest rate (APY) on the previous account, 1370. The value analyzer103 may provide a field requesting a number of times per month thatpayment is made to the bank maintaining the previous account forwithdrawal of funds from a ATM, 1380. Value analyzer 103 may alsodetermine and present expense information (1330, 1390) and savingsinformation (1361, 1362, 1363) for customers in the format (or othertypes of formats) shown in FIG. 13.

FIG. 14 shows exemplary logic that may be implemented by switch system102. In one embodiment, switch system 102 and/or value analyzer 103 mayperform logic that processes customer input information (“customerinput” 1460 shaded in FIG. 14) to calculate savings information 1410,1470 based on assumed, or collected account data, e.g., 1440. Forexample, value analyzer 103 may determine ATM fees 1450 for a customer'sprevious account based on the number of fees paid per month for theprevious account and an assumed (or actual) fee amount. Similarly, valueanalyzer 103 may determine overdraft fees 1420 based on collectedcustomer information regarding the amount of overdraft fees experiencedover a determined period of time, and the fee amount. Temporalinformation may also be determined. Value analyzer 103 may collectinformation regarding how many times the customer deposited checks 1430at a financial account provider over a determined period of time anddetermine, based on average times for performing such transactions, theamount of time the customer may save by avoiding manual check depositsthrough remote deposit capture (deposit by taking a picture in a mobileapplication). The logic shown in FIG. 14 is exemplary and otherinformation may be collected and processed by the logic performed byvalue analyzer 103 consistent with the disclosed embodiments.

With reference to FIG. 15, in other embodiments, switch system mayperform processes that collect (e.g., 1510, 1520), analyze (1530), andcompare demographic information (e.g., 1540) for customers of thedisclosed switch process embodiments. For example, switch system 102 mayexecute a demographic analysis software process (which may be stored inmemory 108 and executed by processor(s) 104), that tracks and/orcollects information relating to customers who previously initiated andcompleted account switches provided by switch system 102 (1510). Switchsystem 102 may collect and maintain the customer demographic information1540, or it may request and receive some or all of the information fromother systems that provide demographic information. In certainembodiments, the demographic analysis software process may compareprofiles, relating to other customers with the determined profile of thenew customer to identify similarly situated customers as the newcustomer. For instance, the new customer may match customers associatedwith a first category of customers because the customer matches acertain set of profile data with those customers associated with thefirst category (e.g., similar age, employment, income, residencylocation (zip code, etc.), credit rating, educational background,hobbies, travel preferences, etc.). In one embodiment, switch system 102may execute processes that provide options for the customer to select apeer group. In response to the customer's selected peer group, switchsystem 102 may determine an estimate of values to other customers inthat peer group and generate content that reflects that information fordisplay in a user-interface of client 114. Switch system 102 may providethe peer group options in the form of drop-down menus, radio buttons,text entry, and any other type of user-interface selection content.

Switch system 102 may also collect account switch profile informationfor the account switch customers that includes data reflectingcharacteristics for each respective customer's switching processexperience (e.g., how long it took to switch accounts using switchsystem 102, how accounts were switched, the types of accounts, thenumber and types of transactions, incentives provided for switching,fees saved, etc.). Once the new customer's profile category isdetermined, the demographic analysis software process may provide thatinformation to value analyzer 103. As illustrated in FIG. 15, customerdemographic information 1540 may include, but is not limited to, an ageprofile, employment profile, income profile, resident profile, credithistory, educational background information, customer-specificinformation (such as hobbies), and account switching history. Based onthe information provided by the demographic analysis software process,Value analyzer 103 may determine average values for one or more accountswitch profile data that can be provided to the new customer, such aswhen switch system presents savings information to the customer via auser-interface. For example, the account savings user-interface providedto the customer may include statistic information, such as a messagesimilar to “people like you saved $X when they switched accounts” or“people from [new customer's college, zip code, who work at yourcompany, family members, friends, business partners, similar incomesetc.] saved $X or Y amount of time when they switch accounts.”Additionally, the demographic analysis software process may determinecustomized marketing messaging for presentation to various profiles.

Other types of statistics, profile information, etc. may be collected,and used to provide messages to new customers consistent with thedisclosed embodiments. For example, seasonal or temporal profileinformation may be used to determine statistic information. Forinstance, switch system 102 may determine (or collect from anothersystem) statistics that reflect account habits based on the time ofyear, such as what percentage of customers (or non-customers) overdraftaccounts in December or during certain Holidays, etc. The seasonal ortemporal information may be combined with the demographic information toprovide statistics for new customers considering switching to the newaccount provided by the account provider leveraging switch system 102.

In certain embodiments value analyzer 103 may perform simulated accountuse processes to determine the savings for the customer. For instance,switch system 102 may determine, collect, and maintain bank profileinformation relating to the customer's previous account (“bankprofile”), non-bank profile information relating to, for example, thedemographic information and category for the customer or othercustomers, and input provided by the new customer. Value analyzer 103may use the bank, non-bank, and user-provided profile information tosimulate the customer's usage of the new account offered by accountprovider 110. For example, value analyzer 103 may use the collected bankprofile information to determine account usage for the new account overa period of time (e.g., 12 months, etc.). Thus, in one example, valueanalyzer 103 may determine the user's average account usage savings (ornon-savings) based on the new account's interest rate, overdraft feestructure, late fee structure, incentive reward structure, minimumpayment or balance structure, etc. The customer's simulated accountusage may be adjusted based on the non-bank profile information. Forinstance, value analyzer 103 may be configured to execute simulationprocesses that adjust any determined fees, interest, etc. based onseasonal, temporal, personal profile, or other types of non-bankprofiles determined for the customer. In one example, value analyzer 103may determine that while the bank profile simulation analysis results inthe customer saving $400.00 in fees, the customer's demographic profileanalysis shows an estimated proclivity to overdraft in December andAugust. As such, value analyzer 103 may adjust the initial determinationof $400.00 of savings to $200.00 to reflect the customer's non-bankprofile characteristics.

In addition, the disclosed embodiments may not be limited to anyparticular type of account or device. That is, instead of financialaccounts, aspects of the disclosed embodiments may be implemented toprovide switching processes for any type of account (e.g., financial,memberships, utilities, phone services, etc.). Additionally, instead ofinteraction through computer, the disclosed embodiments may beimplemented through a smartphone, tablet or other mobile device, etc.Further, the disclosed embodiments may be provided as a one-stop onlinelocation for providing switching services for one or more differenttypes of accounts. As shown in FIG. 16, in one embodiment, a businessentity may host switch system 102 for direct use by users 1610, suchthat one or more accounts can be switched for various purposes. Forinstance, in situations where a user 1610 physically relocates a placeof residence, switch system 102 may perform switch processes that enablethe customer to switch utility information to the new residence.Further, embodiments may include applying the disclosed switch processesto assist a customer to switch transactions associated with membershipbusinesses (e.g., 1650) (e.g., fitness center fees, and social activitymemberships, such as zoo memberships, library card information, studentaccounts at educational institutions, etc.). Further, switch system 102may provide account switch processes for business entities for similarpurposes.

In such embodiments, switch system 102 may be configured to executeprocesses that requests and receives biller specific switchinginstructions from a third party vendor. For example, switch system 102may perform switch processes for a user requesting to switch accountinformation for a specific type of service (e.g., utility 1660-1670, gymmembership 1650, credit card provider 1620, cable / Internet provider1630, travel rewards provider 1640, etc.). A third party vendor systemmay offer services that collect and maintain instructions regarding howto switch users to specific billers (e.g., electrical utility company1660). Switch system 102 may request the switch instructions for thespecific biller, and use that information in its switch process toperform the account switch for the user. Switch system 102 may performprocesses that determine fees to charge the user for these types ofswitches.

Aspects of the disclosed embodiments include collecting certain types ofinformation relating to a customer's previous account to perform thevalue analyzer functions disclosed herein. For example, in certainembodiments, value analyzer 103 may require certain types of informationrelating to a customer's previous account in order to determine theaccount switch savings. These may be:

-   -   Interest Paid    -   Monthly cycle/account fee    -   Overdraft Fee (original/first)    -   Overdraft Fee (subsequent/pile-on)    -   ATM Withdrawal Fee (ATM owner)    -   ATM Withdrawal Fee (Bank)    -   Number of frequency of deposits made at Bank Teller or ATM

Switch Analyzer 105 may also require, in one example, certain types ofinformation relating to a customer's previous account in order todetermine the types of transactions that may need switched. This mayinclude:

-   -   Direct Deposit information    -   Bill pay information    -   Auto ACH Debit payment (biller) information    -   ACH Credit (e.g. annuity or investment income) information    -   Auto Debit Card payment information    -   Transfers to other bank accounts (internal & external)        information

In other embodiments, switch system 102 may execute software processesthat dynamically adjust the content presented in the user-interfacesprovided to users based on confidence levels of the informationcollected and analyzed. For instance, switch system 102 may generate auser-interface for providing savings information, such as that shown inFIG. 11. Switch system 102 may execute processes that analyze how thesavings information was calculated to determine a confidence levelassociated with the savings information. If, for example, switch system102 determines that the savings information was based on accountinformation that was manually provided by the customer, the confidencelevel of the calculated savings information may be low because there maybe some user-input errors or inaccuracies or the amount of informationprovided was minimal. However, if switch system 102 determines that thesavings information was based on account information that was analyzedvia a customer's uploaded account statement, or through credentialaccess, and contained a maximal amount of information, the confidencelevel of the calculated savings may be high. Switch system 102 may usethe confidence level to adjust the user-interfaces provided to customers(e.g., adjust color codes, provide confidence level indicators (e.g.,bars, flags, graphics, etc.). Based on the confidence level, switchsystem 102 may also generate and provide options in the user-interfacesthat allow the customer to increase the confidence level of thecalculated savings. For example, switch system 102 may generate andprovide an option that allows the customer to provide additionalinformation (e.g., upload statements, pay stubs, etc.) that can bereused by value analyzer 103 to perform further calculations todetermine potential savings for the customer. In response, switch system102 may generate and provide an updated user-interface with an adjustedconfidence level indication.

Further, the disclosed embodiments are applicable to existing customersof account providers, and are not limited to new or potential customers.For instance, switch system 102 may perform switch processes forexisting customers of an account provider to switch direct deposits, ACHtransactions, accounts, etc. provided by the same account provider.

What is claimed is:
 1. A customer account switching valuation computersystem, comprising: a storage device storing instructions; and aprocessor configured to execute the instructions in the storage deviceto: receive, from a client computer associated with a customer, aresponse to an offer to switch an existing account to a new account,collect, based on the response, account information relating to theexisting account, parse the collected account information into one ormore categories, analyze the categorized account information todetermine a value to the customer for switching from the existingaccount to the new account, and provide a representation of the value tothe client computer.
 2. The computer system of claim 1, wherein thecollected account information includes unformatted account data and theprocessor is configured to: parse the collected account information intoone or more categories by converting the unformatted account data intoformatted account data; and determine, based on the formatted accountdata, a category for one or more transactions associated with theexisting account.
 3. The computer system of claim 1, wherein theprocessor is further configured to: analyze the collected accountinformation to identify a frequency and amount of a reoccurringtransaction included in the collected account information; anddetermine, based on the frequency and amount, the category for thereoccurring transaction.
 4. The computer system of claim 1, wherein theprocessor is further configured to: analyze the collected accountinformation to identify a code for a transaction included in thecollected account information; and determine, based on the code, thecategory for the transaction.
 5. The computer system of claim 1, whereinthe one or more categories include interest paid, periodic account fee,initial overdraft fee, subsequent overdraft fee, automated tellermachine (ATM) owner withdrawal fee, account provider ATM withdrawal fee,frequency of account provider teller deposits, frequency of ATMdeposits, direct deposit, bill pay, automatic ACH biller debit payment,ACH credit, automatic debit card payment, internal transfers to anotheraccount, and external transfers to another account.
 6. The computersystem of claim 1, wherein the processor is further configured to:simulate activities for the new account using the categorized accountinformation; and determine the value to the customer for switching fromthe existing account to the new account based on results of thesimulation.
 7. The computer system of claim 6, wherein the processor isfurther configured to: simulate activities for the new account over adetermined period of time using the categorized account information. 8.The computer system of claim 1, wherein the representation of the valueincludes a user-interface that includes an overall value representationthat reflects an overall monetary savings that the customer will receiveby switching accounts.
 9. The computer system of claim 1, wherein theprocessor is further configured to: determine the value to the customerbased on account switching statistics for one or more other customersthat previously switched accounts through the computer system.
 10. Thecomputer system of claim 9, wherein the account switching statisticsinclude statistics based on demographics of the one or more othercustomers.
 11. The computer system of claim 1, wherein the processor isconfigured to: determine a demographic profile for the customer; andcompare the customer's demographic profile to a stored set ofdemographic profiles of other customers to determine the value to thecustomer for switching from the existing account to the new account. 12.The computer system of claim 1, wherein the processor is configured to:receive a selection from the client computer reflecting the customer'sselection of a peer group; determine a peer group value for customersincluded in the peer group that have previously switched respectiveexisting accounts to respective new accounts; and provide arepresentation of the peer group value to the client computer.
 13. Thecomputer system of claim 1, wherein the processor is configured to:receive from the client computer credentials for the existing account;request account information for the existing account from an accountprovider for the existing account using the credentials; and collect theaccount information from the account provider for the existing account.14. A customer account switching valuation method, comprising:receiving, from a client computer associated with a customer, a responseto an offer to switch an existing account to a new account; collecting,based on the response, account information relating to the existingaccount; parsing, via a processor, the collected account informationinto one or more categories; analyzing, via the processor, thecategorized account information to determine a value to the customer forswitching from the existing account to the new account; and providing arepresentation of the value to the client computer.
 15. The method ofclaim 14, further comprising: parsing the collected account informationinto one or more categories by converting the unformatted account datainto formatted account data; and determining, based on the formattedaccount data, a category for one or more transactions associated withthe existing account.
 16. A client device, comprising: a storage devicestoring instructions; and a processor configured to execute theinstructions in the storage device to: receive, from a remote computer,an offer to switch an existing account provided by a first accountprovider to a new account provided by a second account provider, providea response to the offer to the remote computer, and receive from theremote computer a representation including a value to the customer forswitching from the existing account to the new account.
 17. The clientdevice of claim 16, wherein the processor is further configured toexecute instructions to: receive from the remote computer a request toprovide account data for the existing account; and send the requestedexisting account data to the remote computer, wherein the value includedin the representation is determined based on the existing account data.18. The client device of claim 17, wherein the request includes at leastone of a request for the customer to upload to the remote computer acopy of an account statement associated with the existing account to theremote computer and a request for the customer to provide to the remotecomputer credentials for accessing information for the existing accountfrom the first account provider.
 19. The client device of claim 16,wherein the first account provider and the second account provider arethe same account provider.
 20. The client device of claim 16, whereinthe client device is a mobile device, and the instructions in thestorage device are embodied in a mobile application.